GZERO World with Ian Bremmer Where middle class growth and small business meet
Jun 27, 2025
Homi Kharas, Senior Fellow at Brookings and co-founder of the World Data Lab, joins Shamina Singh, founder of the Mastercard Center for Inclusive Growth, to discuss the booming global middle class and its impact on small businesses. They explore how small enterprises are vital for economic growth and job creation, alongside the challenges faced by 'strivers' in emerging markets. The duo highlights the importance of digital inclusion, e-commerce, and AI in empowering small businesses, ensuring they thrive in a rapidly changing landscape.
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Small Businesses Power Economies
- Small businesses represent 90% of global businesses and nearly 50% of global GDP.
- They are the hidden engine that truly keeps economies moving worldwide.
Middle Class Expansion Drives Change
- The global middle class now includes more than half of the world's population, a historic first.
- Emerging economies see rapid middle class growth, especially in Asia, reshaping lifestyles and spending.
Middle Class Growth Fuels Small Business
- The purchasing power of the global middle class is changing consumption patterns worldwide.
- Women, as majority small business owners and aspiring entrepreneurs, are key drivers of this change.